Search results
Results from the WOW.Com Content Network
Milton Friedman concluded that governments do have a role in the monetary system, [10] he was critical of the Federal Reserve due to its poor performance and felt it should be abolished. [ 11 ] [ 12 ] Friedman believed that the Federal Reserve System should ultimately be replaced with a computer program . [ 9 ]
The Friedman doctrine, also called shareholder theory, is a normative theory of business ethics advanced by economist Milton Friedman that holds that the social responsibility of business is to increase its profits. [1]
Milton Friedman (/ ˈ f r iː d m ən / ⓘ; July 31, 1912 – November 16, 2006) was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy. [4]
The slogan that "money matters" has come to be associated with Friedman, but Friedman had also leveled harsh criticism of his ideological opponents. Referring to Thorstein Veblen's assertion that economics unrealistically models people as "lightning calculator[s] of pleasure and pain", Friedman wrote: [41]
For premium support please call: 800-290-4726 more ways to reach us
Milton Friedman, winner of the Nobel Memorial Prize in Economic Sciences in 1976, member of the Chicago school of economics and a well-known opponent of socialism. Economist Milton Friedman argued that socialism, by which he meant state ownership over the means of production, impedes technological progress due to competition being stifled. He ...
A new Friedman biography ably explores the economist's ideas but sidesteps the libertarian movement he was central to.
The economist Milton Friedman has claimed that the regulatory process is inherently biased against approval of some worthy drugs, because the adverse effects of wrongfully banning a useful drug are undetectable, while the consequences of mistakenly approving a harmful drug are highly publicised and that therefore the FDA will take the action that will result in the least public condemnation of ...